Fraud and
theft have a lot in common. Both are criminal acts, and both are forcibly
taking something from others without asking permission. Both are all about
stealing and both are bad things. The damage they can inflict may be big or
small but it’s taking from someone nonetheless. People should be careful with
thieves and fraudsters, that’s why knowing the differences between these two is
very important. First what these terms mean:
Fraud
Fraud is a
deceit or trickery over another business or person to gain profit and (or) an
untruthful advantage. Fraud is an intentional deception so that the one doing
the act may gain advantage or may profit from it. This is also done so that
another individual may be damaged. The main purpose of fraud is to take money
or other valuable things from other people…
Theft on the
other hand is taking something from another person without the consent of that
person. It is a crime against property, like money and other valuable things.
Looting, mugging, robbery and burglary are types of theft. A thief is someone
who has been doing theft for a long time, like it has become his way of living.
The main
difference between a fraudster and a thief is that fraudster tends to hide his
crime to the point that he does not want his victim to know that he has taken
something away from that person. The fraudster will make sure that the crime
will be hidden during the act and even after the crime is already done. The
crime must be hidden as long as it can be; this is the main objective of the
fraudster. Unlike theft, the crime is known during the act and even shortly
after committing the act. This is the main difference between the two acts; one
is hidden while the other will easily be known. Another difference is how the
thief knows that he cannot hide the act of stealing, so makes no effort of
hiding the act. Unlike that of the fraudster, he intends to hide the act of
stealing so he gives extra effort in making a scheme of how he can steal
something without anyone knowing.
When one robs
a bank, it is evidently a theft, but when one embezzles a bank then that is a
fraud. Sometimes there are frauds that are found out after a year or two.
So be
careful of the fraudsters and the theft because they might just be lurking
around the corner waiting to strike and get your valuables.
Thus:
·
Fraud has the intention of hiding the criminal act of
stealing, while theft does not.
·
Thieves know they can’t hide the act so they don’t
make much effort to hide it, while the fraudster makes an extra effort to hide
the act.
·
Bank robbery is theft while bank embezzlement is
fraud.
